Category Archives: Economics on the left

Doubling down on incompetence

What else is he going to say, I suppose, but say it he did: Labor’s record spending while in power has been used as an attack for years. Wayne Swan, responsible for the debt, says he’s proud of it. That … Continue reading

Posted in Economics on the left, Federal Politics | 9 Comments

What is capitalism?

There is an interesting thread at Powerline on the question What is socialism? The central aim of socialism has always been to rid ourselves of the capitalist system. And what, exactly, do these socialists wish to get rid of? Certainly … Continue reading

Posted in Economics and economy, Economics on the left, Socialism | 48 Comments

The economics of envy

Here’s a typical bit of leftist rubbish: Wealth concentration near ‘levels last seen during the Roaring Twenties,’ study finds. Such studies, and no doubt accurate to the third decimal. But suppose we just change the heading a bit: Wealth levels … Continue reading

Posted in Cultural Issues, Economics on the left | 12 Comments

A model for Chris Bowen. If a tax increase fails to return what you expected, hike the rate!

Dan Mitchell loves to report the weird things that big government politicians do. New Jersey is a classic case. Petrol was quite recently taxed at 14.5c a gallon, second lowest in the US. But then… In October 2016, then-Gov. Chris … Continue reading

Posted in Economics on the left, Rafe | 21 Comments

Lying for a carbon tax

Dan Mitchell looks at the lies that the US Democrats are using to sell a carbon tax. The claim about “revenue neutrality” is a stunning level of dishonesty, even by Washington standards. At the risk of stating the obvious, if … Continue reading

Posted in Economics on the left, Rafe | 7 Comments

NNT vs MMT

That’s MMT, Modern Monetary Theory. I am just following behind a thread at Instapundit: NASSIM TALEB IS NOT PUTTING UP WITH YOUR BULLSHIT, he’s the NNT, which began with this: It’s this Stephanie Kelton who is the focus here, another … Continue reading

Posted in Economics on the left | 82 Comments

The looney left has found yet another economic theory to ruin us with

From The Times reprinted in The Australian. Insane enough just as an economic principle, but to have it endorsed by Alexandria Ocasio-Cortez and then presented as a sensible idea by the Economics Editor of The Times in London [!!!!!] shows … Continue reading

Posted in Economics and economy, Economics on the left, Media | 65 Comments

A downside to the Great Society.

Liberty Quote In a civilized society it is indeed not so much the greater knowledge that the individual can acquire, as the greater benefit he receives from the knowledge posssessed by others, which is the cause of his ability to … Continue reading

Posted in Economics on the left, Rafe, Terrorism | 16 Comments

How to steal so that those who are robbed actually believe they are being made better off!

Keynesian economics defined and explained: an economic theory whereby the rich steal from the poor who are made to feel grateful because they are led to believe they are benefitting from the money taken from them and parcelled out by … Continue reading

Posted in Economics on the left, Global warming and climate change policy | 16 Comments

Hayek on The False Promise of Socialism and The Road to Serfdom

This is Chapter 6 of Boettke on Hayek. From the academic critique of central planning Hayek moved to more direct political engagement with the socialists in The Road to Serfdom (1944). Some of this was written in Cambridge where Keynes … Continue reading

Posted in Economics on the left, Politics of the Left, Rafe | 4 Comments